FIGR
Figure Technology Solutions, Inc.
Last earnings +1.4% on 2026-05-12
$33.91
▲ +3.80%$33.91▲ +9.00%
over 1Y
L $25.28H $73.91
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+3.8%
1W+26.0%
1M+5.7%
3M-1.7%
YTD-22.5%
1Y+9.0%
Buy
Conviction
Horizon
Long (>12mo)
12-mo target
$•••
Street · 15 analysts
Buy
Newly profitable blockchain-lending fintech growing 48.7% with 26.4% margins — but freshly IPO'd, founder-controlled and richly valued at 64.9x.
Revenue $507M · FY2025
The read
The fundamentals carry the rating, but the price is rich (~51% above our fair-value estimate) — a quality-at-a-price call. The case rests on the business, not the entry; patient buyers may wait for a pullback.
Figure Technology Solutions is a blockchain-based fintech that originates, services and securitizes HELOC loans and runs a digital-asset/credit marketplace, having IPO'd in September 2025. The financial inflection is the headline: FY2025 revenue grew 48.7% to $507M (from $210M in FY2023), and the company swung decisively to profit with net income of $134M (+677.6%) and operating income of $118M, producing a strong 26.4% net margin and 23.2% operating margin. Operating cash flow grew 149.3% to $62.6M, confirming the earnings are cash-backed.
The post-IPO balance sheet is robust: equity jumped 246.1% to $1.23B and cash rose 313.6% to $1.20B, leaving the company well-capitalized with modest long-term debt of $230M and leverage of just 0.88x. The platform thesis — putting loans on-chain to cut intermediation cost, add liquidity and enable real-time loan perfection — is differentiated, and the Connect ecosystem generates technology/ecosystem fees alongside lending.
Is FIGR a buy? The one-page verdict, explained →
The options angle
model · matches our verdictBull call spread~90d expiry
- Long call 34 @ ~4.78 est
- Short call 37 @ ~3.62 est
debit $116max +$184max −$116BE 35.16
BUY verdict with defined risk: the short call finances part of the long one; max loss is the net debit.
Educational template, not a trade recommendation. Strikes and premiums are Black-Scholes model estimates from the last close and 30-day realized volatility — real chains, spreads and IV will differ. Options involve substantial risk.
Financials · annual, by fiscal year
| Line item | FY23 | FY24 | FY25 |
|---|---|---|---|
| Revenue | $210M | $341M | $507M |
| Gross profit | — | — | — |
| Operating income | -$49.4M | $9.23M | $118M |
| Net income | -$47.9M | $17.2M | $134M |
| Diluted EPS | -$0.93 | $0.00 | $0.44 |
| Net margin | -22.9% | 5.0% | 26.4% |
10-year statements — income, cash flow, balance sheet & CSV export →
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$6.53B
EV / EBITDA—
EV / Sales12.9
EV / FCF—
P / FCF—
PEG (trailing)0.11
Earnings yield1.8%
FCF yield—
Quality & risk
ROIC (est.)6.4%
Free cash flow—
Total debt$230M
Net cash$968M
Altman Z-Score4.96 safe
Piotroski F-Score5/8
Capital returns
Buyback yield0.0%
Dividend yield (est.)—
Shareholder yield0.0%
Shares Δ YoY+76.0%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRoutine disclosure cadence — no material red flags in recent filings.
Recent filings
all on EDGAR ↗4Period ending 2026-06-302026-07-02open ↗144Filing2026-06-30open ↗4Period ending 2026-06-242026-06-26open ↗4Period ending 2026-06-042026-06-22open ↗4Period ending 2026-06-042026-06-22open ↗4Period ending 2026-06-042026-06-22open ↗4Period ending 2026-06-152026-06-17open ↗144Filing2026-06-15open ↗4Period ending 2026-06-102026-06-12open ↗4Period ending 2026-06-102026-06-12open ↗8-KPeriod ending 2026-06-102026-06-10open ↗8-KPeriod ending 2026-06-042026-06-10open ↗
Frequently asked
- Is Figure Technology Solutions, Inc. (FIGR) a buy?
- FIGR currently carries a Buy rating with 2/5 conviction, derived from its latest SEC filings. Newly profitable blockchain-lending fintech growing 48.7% with 26.4% margins — but freshly IPO'd, founder-controlled and richly valued at 64.9x.
- What is FIGR's fair value?
- A Modified-Graham model based on FIGR's SEC fundamentals estimates a fair value of about $16.72. It is an estimate from reported earnings, not a price target.
- Is FIGR overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, FIGR currently appears overvalued relative to its SEC-grounded earnings power.
- What is Figure Technology Solutions, Inc.'s quality score?
- FIGR scores 71.98039215686275/100 (grade B) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0002064124, latest 10-Q filed 2026-05-15) · EODHD · Proprietary analysis · as of 6/21/2026, 8:57:19 PM.
About this recommendation — produced by TENK/calls (tenkcalls.com), Luxembourg · not investment advice
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jun 21, 2026, 4:57 PM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.